AI in Project Management - The Future Has Arrived!
Education
Introduction
Over the past few months, we have witnessed incredible transformations in data usage, largely driven by the advancements in artificial intelligence (AI). In a prior discussion with Andy Koffman, we explored potential shifts in the roles and methodologies of project managers. Additionally, I conducted an experiment with ChatGPT to evaluate its capability in creating project documentation. However, my main goal was to explore the next generation of project portfolio management tools that incorporate AI and assess their impact on my role as a PMO, as well as on project managers utilizing these tools.
To delve deeper, I reached out to a colleague at Ketto Software to schedule a demo. Initially, we planned to meet at the Gartner event in London. Unfortunately, the chaotic and noisy environment made it impossible to record anything meaningful. Nevertheless, I caught a glimpse of the tool and was thoroughly impressed. We subsequently decided to hold the demo remotely a couple of weeks later.
During this session, I met with Tim and Marcus from Ketto Software. My focus was on understanding the implications of their AI-driven tool for project management. I specifically wanted to gauge its effects on my role as a PMO working at the project and portfolio level, the potential reduction in administrative tasks for project managers, and how it could benefit a CEO overseeing a large multinational corporation by identifying threats and opportunities within their project portfolio.
By the end of the demo, it became clear that this innovative tool could significantly streamline my workload, assist project managers in expediting processes, and furnish CEOs with vital information they require. Now, let’s delve into the details of the demo itself.
The Ketto Software Application Overview
Ketto is a web-based application designed to create various portfolio process lifecycles. Users utilize single sign-on (SSO) features to access a dashboard displaying projects they're involved with, along with lists of ideas and tasks tailored to the requirements of their organization.
This year, Ketto has introduced AI capabilities that allow users to link various language models like ChatGPT to the platform. For instance, during the portfolio analysis section, users can define specific prompts, which are essentially questions directed at the AI about their portfolio. When executed, Ketto processes the portfolio data, compiles it, and poses the question to the language model. The AI then generates comprehensive text and data outputs, such as which projects require attention based on profitability and other performance indicators.
An exciting feature is the ability to improve project status reports using AI. Project managers can input text summarizing work completed and request the AI to enhance the writing. Additionally, translation capabilities are integrated, enabling users to view reports in their preferred language.
User Interaction with AI
The AI functionality doesn't end there. Project managers can directly edit AI-generated text and create templates, eliminating the need for manual graphic design. They can simply request a specific chart, and the AI will generate the corresponding graphic for them.
Moreover, the chat feature allows users to pose ad-hoc questions about the portfolio directly. For instance, they can inquire which projects are not meeting their objectives. The AI accesses real-time project data and provides an answer, which can be a bit intimidating for PMOs, as this reduces the necessity for traditional reporting mechanisms.
Ceos can leverage these tools to gain insights directly from the data without intermediary reporting, relying on the premise that accurate data input will yield reliable outputs.
Safety and Security of Data
One pressing concern many organizations have is the safety of their data when utilizing third-party tools. However, Ketto Software offers ISO 27001 certification, ensuring robust data security measures are in place. Their collaboration with Microsoft for AI tools means that none of the data used during queries will be utilized to train AI models, protecting sensitive organizational data.
This demo showcased the remarkable capabilities of AI in shaping the future of project management. The application offers project managers, PMOs, and CEOs a powerful resource to streamline processes, improve efficiency, and access critical insights. The question remains: are these advancements a "PMO killer" or a "PMO savior"? I encourage you to share your thoughts in the comments.
Note: This video was not sponsored, and I did not receive any payment from Ketto for discussing their product. However, I look forward to catching up with Tim over a cup of coffee in the near future.
If this exploration of AI and project management piqued your interest, be sure to check out related content for further insights!
Keywords
AI, Project Management, Ketto Software, Portfolio Management, ChatGPT, Automation, PMO, Data Security, Efficiency
FAQ
Q: How can AI in project management help project managers?
A: AI can reduce administrative burdens, automate reporting processes, and provide insights into project performance, allowing project managers to focus on critical tasks.
Q: Is the data shared with AI tools secure?
A: Yes, Ketto Software ensures data security through ISO 27001 certification and does not use any organizational data for training AI models.
Q: What features does Ketto Software offer?
A: Ketto provides AI capabilities for portfolio analysis, status report enhancements, real-time project insights, and data visualization tools without manual intervention.
Q: Will AI eliminate the need for PMOs?
A: While AI can streamline many functions traditionally handled by PMOs, it serves more as a tool for enhancement rather than outright replacement, allowing PMOs to focus on strategic decision-making.
Q: Can CEOs directly access project data through AI tools?
A: Yes, AI tools allow CEOs to ask direct questions about their project portfolios, providing them with immediate insights without needing intermediary reports from PMOs.
